U.S. ITC postpones decision on SK Innovation’s secret trade theft case
On Monday, the United States International Trade Commission (ITC) announced that the decision would be delayed in SK Innovation’s (096770: KRX) secret trade theft case.
The government agency said that the final decision would be announced on December 10, 2020.
In 2019, Tesla and General Motors’ electric-vehicle battery (EVB) supplier LG Chemical (051910: KRX) filed trade complaints against SK Innovation in the United States over allegations of secret trade theft.
The largest Korean chemical company stated that SK Innovation must be blocked from producing battery cells in the United States and importing the components needed to create the EVB cells. However, SK denied LG Chem’s accusations.
“It is clear that this delay has resulted in a longer litigation process,” SK Innovation said.
Meritz Securities’ (008560: KRX) Analyst Roh Woo-ho said that the delay shows that ITC “is facing difficulties making the final determination on the case, considering the impact it will bring to industrial issues in the United States including job issues.”